France Raises Merger Control Notification Thresholds

On April 14 and 15, 2026, the French Parliament adopted a new bill, which raises the monetary thresholds triggering mandatory pre-merger notification to the French Competition Authority (the FCA).

The new bill is expected to be referred to the French Constitutional Court (Conseil constitutionnel) before enactment, and the new thresholds should not enter into force before five to six months.

Increased Merger Control Notification Thresholds

The new thresholds have been introduced as part of the Bill on the Simplification of Economic Life (the Simplification Bill).[1] 

Article 8 of the Simplification Bill raises the turnover thresholds above which transactions must be notified to the FCA, replacing thresholds that have been in place for over 20 years. Under the new regime, a concentration must be notified to the FCA if the following thresholds are met, provided the transaction does not fall within the scope of the EU Merger Regulation (Council Regulation (EC) No 139/2004):

• General threshold:
  • The parties’ combined worldwide turnover exceeds €250 million (up from €150 million under the previous regime);
  • At least two parties each have an individual turnover in France exceeding €80 million (up from €50 million under the previous regime).
• Retail-specific threshold for transactions involving retail commerce (where at least two parties operate one or more retail stores):
  • The parties’ combined worldwide turnover exceeds €100 million (up from €75 million under the previous regime);
  • At least two parties each have an individual turnover in France exceeding €20 million (up from €15 million under the previous regime).

Transactions carried out in French overseas departments and territories (départements et collectivités d’outre-mer) are not affected by these changes and remain subject to the existing thresholds.

Pending Constitutional Review

Although the Simplification Bill has been passed by both chambers of the French Parliament – the National Assembly on April 14, 2026 and the Senate on  April 15, 2026, following agreement by the joint parliamentary committee (Commission mixte paritaire) on  January 20, 2026 – a referral to the French Constitutional Court (Conseil constitutionnel) is widely anticipated, although it remains unclear whether such referral will cover the increase in thresholds.

Entry Into Force

The new thresholds will take effect on the first day of the fourth month following the date of publication of the Simplification Bill, and will apply to all transactions formally notified to the FCA from that date onwards. In light of the anticipated constitutional review, entry into force is not expected before approximately five to six months.

Background and Context

The existing general merger control thresholds of €150 million (worldwide) and €50 million (France) have been in place since 2004 and are widely regarded as no longer reflecting the evolution of France’s economy, GDP, and inflation over the last two decades. The reform has been broadly supported by industry stakeholders and the FCA alike. In 2025, the FCA reviewed a record 328 transactions,[2] representing an 11% increase compared to the previous year.[3] The threshold increase is expected to reduce the volume of transactions subject to mandatory notification to the FCA, allowing it to concentrate its resources on transactions of greater economic significance. In parallel, the FCA is seeking the introduction of new legislation that would enable it to review below-threshold transactions.[4] While the precise contours of this new call-in power, as well as the timeline for its potential adoption, remain highly uncertain, the FCA has recently issued several high-profile decisions indicating that, in the interim, it is prepared to rely on antitrust rules to review below-threshold concentrations.[5]

[1] See the Simplification Bill, as adopted by the French National Assembly and Senate, available here.

[2] See FCA press release, “2025: a year of action for the Autorité de la concurrence,” 8 January 2026, available here.

[3] In 2024, the FCA reviewed a record 295 transactions. See FCA press release, “2024, a historic year for the Autorité de la concurrence: €1.4 billion in fines imposed and a record 295 mergers examined,” 15 January 2025, available here.

[4] See FCA, Roadmap 2025-2026, page 8, available here.

[5] See FCA Decisions No. 24-D-05 of 2 May 2024, regarding practices implemented in the animal rendering sector and FCA Decision No. 25-D-06 of 6 November 2025, regarding practices implemented in the online medical appointment booking and remote medical consultation solutions sector.